Bitcoin Miners Surrendered to the Fall: Exactly 1,200 BTC Was Sold Yesterday!

Bitcoin (BTC) miners made the biggest sale in the last 3 months yesterday.

Julio Moreno, official of the on-chain data and analytics platform CryptoQuant, said in his post on Twitter on June 11 that Bitcoin miners have seen the largest sales volume in the last 3 months.

In the statement made by Moreno, the following statements were made:

Miners were in a difficult situation when the production cost doubled after the Bitcoin halving on April 20. It is estimated that the decline in Bitcoin price and increasing costs may have been effective in these sales. On the other hand, CryptoQuant CEO Ki Young Ju said in his post on Twitter on June 11 that 1,000 BTC of this sale came from Marathon Digital.

Recently, the tension caused by the US Federal Reserve (FED) interest rate decision and inflation data had caused a serious decline in the cryptocurrency market.

According to CoinGecko data, Bitcoin price is trading at $67,435 at the time of writing.